3.3K
Downloads
90
Episodes
The demands of owning a practice while providing excellent care can be overwhelming. Many practice owners struggle with scaling their business while staying true to their mission, and wonder how they can get unshackled from the ”Success Trap.” This podcast has the answers. On Thriving Practice we believe you can have a profitable practice, enjoy sustainable growth, AND build your business around the life you want to lead, not the other way around. Join host Tracy Cherpeski, Executive Coach & Consultant, Mindset Mastery and Time Leadership expert, each week as she interviews experts in all aspects of the medical and dental fields, and shares wisdom in solo episodes.
Episodes
6 days ago
6 days ago
Thanks for tuning-in today for a new episode of Thriving Practice. In today’s episode, I’m speaking with Justin Maxwell of Big Life Financial.
Our conversation covered a lot, with a strong focus on how to reduce the financial stressors that you will likely experience along the way in your career. I recommend you take notes and reach out to Justin if you’re curious about paying down student loans or learning more about how to take charge of your wealth.
If you’re in healthcare, you likely have student loans. So, you’ll want to listen closely to what Justin says about paying off your loans, and how you might be able to capitalize on the tax code that can help you bring your payment down substantially to zero, or nearly to zero.
His parting wisdom is:
- Don’t let the tax tail wag the dog and dictate your financial life. There’s a better way to do this.
Learning how to get your hard-earned money to work for you is something we hear about a lot, and this conversation with Justin highlights several ways to make that happen.
Bio:
Justin Maxwell is a tax and wealth strategist. He helps business owners, particularly medical professional business owners, plug money leaks, become more efficient with the money earned and create the certainty needed to live a big life. He has helped hundreds of business owners around the country saves tens of millions of dollars in taxes and student loan interest. He is married to a beautiful woman and the father of three rambunctious boys. Most people coach you on how to make more money or how to grow your money. Justin focuses on helping you keep the more of the money you already earned.
Find Justin:
Phone: 801-882-1377
Email: justinm@biglifefinancial.com
License #767041
LinkedIn
Connect With Us:
Wednesday Jan 25, 2023
Wednesday Jan 25, 2023
This week we’re speaking with Geoffrey Roche, Geoffrey Roche, Senior Vice President, National Health Care Practice of Core Education Services, a Public Benefit Corporation with a mission to support small and mid-sized institutions through innovative shared services.
Geoffrey shares an ecosystem approach to creating sustainable, equitable change in the healthcare and education systems. He says we’re at an inflection point in the workforce world, and the root cause of high turnover, burnout and dissatisfaction is due in large part to problems of culture and inclusion (or lack thereof).
We also discuss:
- The negative impact of larger organizations purchase smaller practices and expect the purchased practice to relinquish their culture
- Solutions for the very real problem of a need for leadership in healthcare (namely that it is already there and requires support and recognition beyond job titles)
- The possibility of starting an action-oriented organization like a think tank to create solutions to the many difficulties in healthcare
Bio:
Geoffrey M. Roche, MPA, is an accomplished healthcare and higher education executive with steadfast commitment and passion for healthcare innovation, future-focused strategy, transformation, cultural change, diversity, equity, and inclusion, and workforce impact. His professional career includes over 15 years in hospital administration and higher education leadership as a strategic advisor to the President and CEO and department director of various departments, including Business Development and Strategic Planning, Government Affairs, Community Health, and Public Relations. Roche is an Adjunct Instructor of Health Administration in the MBA/MHA Program at Moravian University and a Corporate Faculty member in Population Health for Harrisburg University.
Roche earned his Master of Science degree in Management and Leadership: Public Administration at East Stroudsburg University and his Bachelor of Arts in Political Science at Moravian University.
Find Geoffrey:
Book Mentioned:
Broken: How Our Social Systems are Failing Us and How We Can Fix Them
Connect With Us:
Wednesday Jan 11, 2023
Wednesday Jan 11, 2023
In today’s episode, I’m speaking with Sam Heller of ProCFO Partners, a company of 40+ expert financial officers, networked across industries, verticals, specializations and situations.
Sam tells us the importance of understanding your numbers as a business owner so you know what they mean, the picture they’re presenting, and so you can make decisions that align with your business goals.
Listen closely as he talks about what seem like small details, but can have a big impact, particularly if one detail is askew.
I love talking with numbers people, because many practice owners shy-away from talking about and digging into their numbers, but I promise you that even an hour a week going over and understanding your numbers will be time well-invested. Sam highlighted the difference between day-to-day accounting activities and the strategic role of a CFO, where going below the surface to focus on where you’re making money and where you’re NOT making money, so you and your team can focus on what makes the most sense to make your goals a reality.
Sam’s parting wisdom is:
- Make sure you are getting the financial information you need to understand and make strategic decisions to increase profitability. This is paramount.
I know sometimes it can feel overwhelming to wear so many different hats, but hopefully this episode will help shed a light on where you can outsource with high returns.
Bio:
Sam is an experienced CFO with the ability to manage an organization’s finances while moving an organization forward in new strategic directions. He has over 30 years of experience as a CFO and senior finance executive. Most of his experience has been in the provider healthcare field where he became an expert in all areas of healthcare finance, reimbursement, billing, accounts receivable, cash management and investments. Sam’s career spanned 25 years with the Visiting Nurse Service of NY, a large home care and Medicare/Medicaid insurance company.
Find Sam:
Podcast: Create The Next with ProCFO
Connect With Us:
Wednesday Jan 04, 2023
Wednesday Jan 04, 2023
Happy New Year, and welcome to Episode 87. Tracy is sharing her journey through massive transitions and personal struggles during 2022, and why she’s dancing to shake it out of her system as she leads her company into 2023 and beyond.
Tracy shares that she’s going to share bold, and possibly uncomfortable, opinions, and perhaps you’ll feel heard and seen, and not alone. There’s a lot in store for you on the podcast this coming year, as you’ll hear from more professionals serving the healthcare industry, and in solo episodes, you’ll explore mindset, perspective shifts and how to build your practice around your life rather than trying to squeeze life into and around your practice.
Episode highlights:
- Learning to live with and embrace contrast
- The importance of sufficient support
- What’s new at Tracy Cherpeski International
- What to expect in the coming year on the podcast
- Opportunities to work with Tracy and her team
Tracy's Bio:
Tracy is an Executive Coach, Consultant and Leadership Development expert. She helps her clients who struggle with feeling like they have very little control over their time and energy, and who wish to create a healthy, fulfilling path to greater success. She helps her clients exponentially expand their success without flipping their lives upside-down.
Connect With Us:
Time Leadership Delegation Tool
Email us to learn about your Time Leadership VIP session
Wednesday Dec 28, 2022
Wednesday Dec 28, 2022
Welcome to Episode 86! This week Tracy’s sharing how you can put your Time Leadership into inspired action. She reviews the first two Pillars of Time Leadership: Discovery and Analysis, where you get crystal clear about what you really want for your practice and life outside of work, and start to value your time and energy in a different way. In Pillar 3, Inspired Action, you work your plan to implement buying-back your time and energy.
Tracy shares her Time Leadership Quadrant to help you prioritize your to-do list and keep your head clear as much as possible. You can pick up your free Time Leadership Delegation Quadrant to start to take back your time and energy.
The 4 quadrants of Time Leadership are:
- Complete today - 2 personal, 3 professional
- Complete by end of the week
- Medium-long-term projects (3-6 months)
- Do it, Delegate it or Delete it
Listen to Episode 81 to learn about Pillar 1 (Discovery), and Episode 77 to learn about Pillar 2 (Analysis).
Bio:
Tracy is an Executive Coach, Consultant and Leadership Development expert. She helps her clients who struggle with feeling like they have very little control over their time and energy, and who wish to create a healthy, fulfilling path to greater success. She helps her clients exponentially expand their success without flipping their lives upside-down.
Connect With Us:
Time Leadership Delegation Tool
Email us to learn about your Time Leadership VIP session
Wednesday Dec 21, 2022
Wednesday Dec 21, 2022
Welcome back to part two of our interview with Jeremy Pont of Phoenix Regenerative Consultants in Lillesand, Norway. Part one focused mainly on partnership and the benefits of complimentary skill sets and areas of expertise. Part two is focused more on the clinical side and the benefits of regenerative medicine.
Jeremy spoke to the limitations of the more conservative approach to pain and injuries, and how at Phoenix Helse, they have seen great improvements for their patients. Additionally, because regenerative medicine, specifically PRP and stem cell treatments, is somewhat uncharted territory, at least in terms of mainstream medical treatments, there’s a ton of opportunity for learning and leading the charge.
Jeremy and his business partner David have been working with world-renowned scholars and researchers in their quest to expand their understanding of the powers of regenerative medicine, and as such, they’ve expanded their business model to include consulting for other practitioners and providers who want to learn more about regenerative methods.
They’re working on multiple fellowships with the NIMS University in Jaipur, India, and Jeremy is pursuing his PhD as well, which means not only is he expanding his knowledge and getting top-notch training, he is also teaching as part of his program. Additionally, they’ve opened a research and development clinic in New Delhi, India, and will be opening to the general public in February 2023.
With all the wisdom and knowledge Jeremy shared about the business of partnership and expanding knowledge, Jeremy’s parting wisdom is right up my alley in the personal development realm:
- Try to read one book per month that’s to do with personal growth.
- Live by the compass, not the clock.
- Write 3 goals each morning, and let 2 of them be about your happiness and presence; it makes all of your life easier and supports your patients in their experience of you.
Bio:
Jeremy grew up in Australia loving the outdoors and a keen sportsman. After completing his high school studies, Jeremy moved to Sydney where he obtained his Bachelor and Master’s degree in Chiropractic at Macquarie University and thereby studying extensively musculoskeletal and sports medicine.
Over the last 10 years he has added to his Master’s degree and now has a certificate in functional applied science, completed his board certification in pain management in the United States, which further equipped him as a specialist in diagnosis and treating complex musculoskeletal conditions. Jeremy's Full Bio
Find Jeremy:
Phoenix Regenerative Consultants
Email: admin@phoenix-regen.com
Experts Mentioned:
Dr. Satya Prakash
Connect With Us:
Wednesday Dec 14, 2022
Wednesday Dec 14, 2022
This week we’re joined by Jeremy Pont of Phoenix Regenerative Consultants in Lillesand, Norway. This is part one of our interview.
Jeremy talks about the challenges and benefits of business partnership with a provider whose skillset complements yours.
Jeremy strongly encourages writing everything down, getting crystal clear about all the possible contingencies, running the gamut from managing staff, to how side hustles are perceived, to larger decisions that require input from all invested parties.
The journey to partnership and being in partnership is likely not for the faint of heart, but in hearing Jeremy talk about working with his partner David, I definitely hear from him that this partnership has been positive. The professional growth, expansion of knowledge, and locking arms with another provider who was tired of seeing his patients run out of non-pharmaceutical options, is a powerful combination to build a practice.
Come back next week to hear more about regenerative medicine, how to piece together the right kind of education to expand your own practice into this modality if you like, and how to support your patients in healing and increasing their functionality.
Bio:
Jeremy grew up in Australia loving the outdoors and a keen sportsman. After completing his high school studies, Jeremy moved to Sydney where he obtained his Bachelor and Master’s degree in Chiropractic at Macquarie University and thereby studying extensively musculoskeletal and sports medicine.
Over the last 10 years he has added to his Master’s degree and now has a certificate in functional applied science, completed his board certification in pain management in the United States, which further equipped him as a specialist in diagnosis and treating complex musculoskeletal conditions. Jeremy's Full Bio
Find Jeremy:
Phoenix Regenerative Consultants
Email: admin@phoenix-regen.com
Experts Mentioned:
Dr. Satya Prakash
Connect With Us:
Wednesday Dec 07, 2022
Wednesday Dec 07, 2022
In today’s episode, I’m speaking with the wise Hannah Smolinski of Clara CFO Group.
She shares her best tips on how to grow and scale into 7 figures and beyond with strategic financial leadership, and using money as a tool for growth. We also talked about preserving the owner’s energy and decreasing the opportunity costs associated with owners doing all the things in their business.
You won’t want to miss when we talk about Zone of Genius, and what that means for business owners, particularly with respect to reducing fatigue and increasing the “psychic benefits” of removing and delegating what doesn’t belong on the owner’s plate.
Hannah stressed the importance of getting crystal clear about what you really want to achieve in the next 3-5 years, and being incredibly intentional while implementing strategies and changes to achieve your goals. I love how she breaks down how she and her team ask not only what their client’s goals are, but also what they’re willing to do to achieve those goals.
Her parting wisdom is:
- Don’t let finances and numbers intimidate you
- It’s really about doing 3rd grade math (addition, subtraction, multiplication and division) so it doesn’t have to be scary
- Remember that your numbers tell a story, so you can get a lot of valuable information by knowing your numbers
- When you’re ready to work with a strategic finance specialist, make sure you find a partner you can trust and feel comfortable asking all the questions, because there are no dumb questions in finance
I really enjoyed our conversation and could have talked about the importance of strategic finance with her for hours. I am sure you’ll learn a lot from this episode, so you know what to do.
Grab a beverage or a snack and settle-in to listen to Hannah and her incredible wisdom.
Bio:
Hannah Smolinski is a CPA and the founder of Clara CFO Group, a virtual CFO agency providing small businesses with financial clarity and profit maximization strategies. Her experience working for one of the world’s largest accounting firms inspired her to make corporate expertise accessible to small business owners through fractional CFO services. She also hosts a YouTube channel with over 38,000 subscribers and uses the platform to help small businesses achieve financial success.
Find Hannah:
Connect With Us:
Wednesday Nov 30, 2022
Wednesday Nov 30, 2022
In today’s episode, I’m speaking with Phil Johnson, founder and CEO of Master of Business Leadership (MBL) and veteran tech executive. Phil overcame adversity as a kid when he was diagnosed with dyslexia when taught himself to learn differently. He has helped organizations generate more than $1.5B by teaching leaders how to improve their emotional intelligence.
Phil shares how leaders can develop Emotional Intelligence, their EQ, and how that is more valuable than IQ, and anyone can develop EQ.
We discuss the value of leadership understanding and developing their EQ, and why that is important for provider-owners.
You won’t want to miss when he talks about resistance to change and our biological and sociological hardwiring.
He identifies our 3 primary sources of resistance to change as the following. The first two are biological, and the third is sociological:
- Amygdala - don’t leave the safety of the cave. Fight, flight and freeze are at the mercy of fear.
- Existing habits - neural network pathways and their internal battle for dominance.
- Sociological resistance to change - people around us don’t want us to change for fear of having to change themselves.
Bio:
Phil Johnson is founder and CEO of Master of Business Leadership (MBL) and veteran tech executive, who overcame adversity as a kid when he was diagnosed with dyslexia. Phil taught himself to learn differently. He has helped organizations generate more than $1.5B by teaching leaders how to improve their emotional intelligence.
Find Phil:
Connect With Us:
Wednesday Nov 23, 2022
Wednesday Nov 23, 2022
Thank you for joining us today for a new episode of Thriving Practice.
This episode I’m sharing my own wisdom. I’m sure you’ve experienced the rush, never having time to do what you really want to do, always having unfinished tasks, and feeling like your business might swallow you whole, feeling. Most of us have been there.
If you’re feeling the following:
- Overworked.
- Becoming disillusioned with being in business for yourself and are considering going back to work for a different organization (the VERY THING you left due to burnout and other frustrations!) Listen to episode 9 for more on burnout.
- You’re not experiencing the time and financial freedom you envisioned when you started your business.
Then you’re in the right place today. Here’s why “Time Management” doesn’t work, and what you can do about it.
Time management implies control and getting more stuff done. Time Leadership implies directing your attention and focus toward the activities that contribute positively to the bottom line of your business, and which bring you a sense of joy and accomplishment.
Time Leadership is wrapped around 3 pillars:
- Discovery - ask yourself: “What do I really want?”
- Analysis - how much do you cost your business, and how much money are you leaving on the table by doing things better suited to other team members, or outsourced?
- (Inspired) Action - once you’re clear, ask yourself what the next best step is. What can you accomplish right now that contributes positively to the bottom line or growth of your business?
Make sure to answer these questions, and it’ll start to become very clear where best to direct your energy and efforts in your business.
Please be sure to subscribe and leave us a rating and review if you feel inclined. Leaving a review is an excellent way to share your thoughts and gratitude so practitioners and entrepreneurs alike can find us and learn from the incredible, FREE, evergreen content we’re providing.